AMD gets a price target boost from TD Cowen on chipmaker’s partnership with OpenAI
There may be more upside ahead from AMD’s partnership with OpenAI, according to TD Cowen. Analyst Joshua Buchalter, who has a buy rating on the chipmaker, raised his price target on the stock to $270 from $195. That signals upside of more than 15% from Thursday’s close. AMD this week announced a deal with OpenAI in which the ChatGPT maker will buy billions of dollars worth of equipment to build out its AI capabilities. As part of the deal, OpenAI may also take a 10% stake in AMD . “While a formal partnership shouldn’t come as a total surprise given Sam Altman’s appearance at AMD’s AI event, and OpenAI’s insatiable demand for compute, the line of sight and magnitude was still shocking. Still obviously much to prove with the actual deployments, but we believe this should help assuage several investor concerns regarding AMD’s roadmap,” Buchalter said. AMD 5D mountain AMD 5-day chart AMD shares have soared a whopping 41% this week thanks to its OpenAI partnership announcement. That would mark its biggest one-week advance since April 2016, when it rallied 47.8%. “Overall, we believe the partnership offers significant validation that AMD is meaningfully participating in the AI compute TAM along with NVIDIA,” he said. Analysts are mostly bullish on AMD. Of the 55 who cover it, 39 rate it a buy or strong buy, LSGE data shows. Year to date, the stock is up more than 92%. ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
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